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North American Newsletter 27 September

North American Newsletter 27 September

Atlas Air Worldwide Announces New ACMI Contract with FedEx

Atlas Air Worldwide announced its subsidiary Atlas Air, Inc. has entered into a long-term agreement with FedEx to provide two 747-400 freighter aircraft on a full-time aircraft, crew, maintenance and insurance (ACMI) basis. This new agreement is in addition to the company’s existing multi-year peak season contract that provides FedEx with a minimum of five aircraft during the fourth quarter.

Boeing Forecasts China’s 20-year Commercial Airplane Market Valued at Nearly $1.5 trillion

Boeing forecasts that China’s airlines will require 8,700 new airplanes by 2040, valued at $1.47 trillion, to meet expanding commercial air travel demand. The 20-year forecast reflects the China market’s rebound and further evolution of its airline business models. Boeing shared the China forecast as part of the 2021 Commercial Market Outlook (CMO), the company’s long-term forecast of demand for commercial airplanes and services.

KLM to serve more US destinations this winter

Thanks to the recent easing of travel restrictions, KLM Royal Dutch Airlines will be allowed to operate additional services to destinations in the United States this winter. The US recently announced that, from the start of November, vaccinated travellers from the EU and UK would be granted access to the US. The easing of restrictions prompted KLM’s decision to resume service to Las Vegas and Miami from 7th December. KLM previously announced that it would expand its winter schedule with services to four new destinations: Cancun (Mexico), Port of Spain (Trinidad & Tobago), Bridgetown (Barbados) and Mombasa (Kenya).

Mammoth Freighters Adds Widebody MRO Facility to B777 Cargo Conversion Program Initiative

Mammoth Freighters announced a strategic investment in a world class widebody maintenance and modification facility to support its Boeing 777-200LR and 777-300ER passenger-to-freighter conversion programs. Through its investment, Mammoth is embarking on a long-term partnership with GDC Technics. Mammoth Co-CEO Bill Tarpley stated “By partnering with GDC, our Mammoth 777 -200LR and -300ER freighter conversions and support initiative will be centrally located in the US in a facility designed specifically for 777-200/300 aircraft and with a skilled labour force in place.”

Northern Pacific Airways announces purchase of its first six Boeing 757-200s

Northern Pacific Airways, a wholly-owned subsidiary of FLOAT Alaska LLC, agreed to the purchase of its first six aircraft—Boeing 757-200s. The airline completed the transaction to meet part of its initial fleet requirements. The first aircraft within this purchase will be delivered immediately. The airline intends to offer service between points in the U.S. and Asia, via Anchorage, Alaska. “Northern Pacific is proud to introduce these powerful aircraft as the foundation of our fleet,” said Rob McKinney, Northern Pacific’s Chief Executive Officer. “The Boeing 757-200 will help us achieve operational savings and efficiencies while offering our customers a rewarding travel experience.”

Wings Capital Partners LLC Announces Closing of $500,000,000 Secured Loan Facility

Wings Capital Partners announced the closing of a $500 million secured loan facility with a syndicate of four major international banks. The five-year loan facility contains a two-year acquisition period and can be upsized to $750 million. The facility will be used to acquire a portfolio of predominantly young, in-demand, narrow-body commercial jet aircraft. The lending group consists of Goldman Sachs Bank USA, Credit Agricole Securities, Natixis S.A. and Royal Bank of Canada. Goldman Sachs Bank USA acted as structuring agent for the facility.

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